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USDZAR

USDZAR 15.013700 - 0.82% SHORT * CONTINUATION PATTERNS Hey everyone Hope you're having a great one, here's an idea on the DOLLAR ZAR, the pair has been trading in a descending channel and respecting structure with regard to price looking for continuation of this move on the pair targeting both my Fibonacci extensions. the pair is currently trading near structure we could see some range or the formation of a descending channel or a full out retracement so watch price and keep the pair in your wacth list to catch this one. many stars must align with the plan before executing the trade, kindly follow your rules. LET'S SEE HOW IT GOES.. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES here's some of my rules if they help. 1. look at structure be it descending channels, pennants and so forth. 2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation. 3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term. 4. aggressive trades can be executed on the pull back 5. price action must definitely align with the plan.' 6. structure definitely 7. the 20 EMA must be respected as support / see a bounce at this structure 8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S . 9. CANDLE STICK PATTERNS. so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan. RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Short
by PULEMokhothu
USD/ZAR weekly candle. The November risk currency rally is loosing some steam which has the USD/ZAR pair struggling to break the major support rate of 15.08/.09, which is on the trend line from from March 2018 and the 78.6% Fibonacci retracement level from Covid dollar rush back in February and March this year. A break below 15.08 will allow the pair to move into the support range between 14.58 and 14.84. Strong support is expected at 14.84 but continued rand momentum could see the pair drop towards the bottom of the current upward channel at 13.88 in the first or second quarter of next year. A failed break below 15.08 could however see the pair move back towards the 16.00, the 61.8% Fibonacci retracement level. This move will however only prolong the expected move towards the support range of 14.58 and 14.84. The MACD and Stochastic indicators are however dropping close to the their respective support levels which is an indication that a marginal retracement of the November risk currency rally is highly probable. Local factors from SA could also hamper a move towards the support range namely: The weak fiscal position, continued civil labour union tensions and the threat of further credit rating downgrades (largely due to the debt pile of the long list of failed State Owned Entities and the crumbling of the SA economy). These factors could easily jeopardize the move into the support range which could mean that South Africans may never see the USD/ZAR trade below 14.50 ever again...
by GustavFourie96
USDZAR top-down AnalysisHello everyone, if you like the idea, do not forget to support with a like and follow. on WEEKLY: USDZAR is sitting around strong demand in blue and rejecting a green trendline so we will be looking for trend-following buy setups on lower timeframes. on H1: USDZAR is forming a trendline in red so we are waiting for a new swing to form around it to consider it our new trigger swing. Trigger: Waiting for a momentum candle close above the gray area to sell. and until the buy is activated, this one would be overall bearish and can still dive inside the blue zone. Good luck!
Long
by TheSignalyst
2
USDZAR - Trend Change and Diversion in place - Swing Trade 📍 10+ years experience in markets 📍Professional Stock market and Forex trader 📍 Supply/Demand Zones 📍 Frequent updates 📍Covering FX / Gold Spot / NSE-BSE / DFM / ADX / US Stocks 📍Real time updates KEY NOTE - SPECULATIVE SETUP - not a financial advise - do your own analysis Please use STOP LOSS and don’t risk more then 1% or maximum 2% of your total account ⏳ 1 day Chart analysis DM for more details - Tagged Long
Long
by FOLLOW_PIPS
USDZAD LONG - PRICE HAS REACHED WEEKLY TREND LINE AND SUPPORT!Price has been moving with strong bearish momentum on the weekly chart since we broke out of the support area in early November. We have now reached previous weekly support and a weekly trend line and if we see a strong shift from the bears to the bulls we could start to see the overall bullish trend for USDZAR start to resume again and give us a swing to test the previous support, now turned resistance that we broke out of in early November.
Long
by mikoaodu